Wells Fargo & Co. Rethink Rating of Gilead Sciences

When it comes to medical breakthroughs Gilead Sciences has been somewhat of a patriot, and it seems as if Wells Fargo shares the same opinion. They restated their buy rating regarding the shares of Gilead Sciences, this information comes fresh off a report that was published on Monday. The target price pertaining to the Gilead Sciences stock is $5.79, which isn’t too shabby.
The shares of this particular company (known as NASDAQ:GILD) were traded up about 2.19%, and all of this was done during the mid-day trading process on Monday. This increase allowed them to hit $68.25. Gilead Sciences is thriving, but it did have a 52 week low of $46.70 (which even then isn’t that bad at all), so it seems as if they are growing as rapidly as they please.

The company itself had an incredible revenue to report, peaking at a whopping $3.04 billion for this quarter alone. This is probably what led to the decision by Wells Fargo to look over their previous statements. The company has an impressive resume to uphold, as the quarterly revenue was up 20.5% when you look at it on a yearly basis. The average amount of money that analysts have predicted the shares hitting (earning wise that is) $3.99 per share held this fiscal year alone.

This means that investors who are looking for something to dip their fingers into should probably look towards this, if you make three dollars for every dollar you invest you could come out on top as a very rich person. It’s hard to say whether this information isn’t biased in some way, shape or form, but if it isn’t it seems like shareholders of Gilead Sciences have something great coming for them.